Image credit: Aegean Marine Petroleum

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Aegean Marine Petroleum Network Inc looks set to pull out of the Fujairah bunker market during the course of 2018 in a move similar to the one made by the company in Singapore, which saw Aegean eventually terminate its operations as a physical supplier at the Asian port in January.

Speaking on Thursday during an analysis of Aegean's latest quarterly results, president Jonathan McIlroy explained that the company had already "reduced our presence in Fujairah and secured a contract for most of the company's clean product tanks there".

"The culling of volumes from Fujairah in 2018 will play out similarly to the story described in Singapore whereby it removes Aegean from a location which has acted as an overall drag on gross spread," McIlroy added.

Aegean has been operating as a bunker supplier in Fujairah - the Middle East's leading bunker port - since the year 2000.

The company performs deliveries of high-sulphur fuel oil and DMA-grade marine gas oil at Fujairah anchorage and in port, Khor Fakkan anchorage and in port, and Kalba anchorage.